Orogen Royalties Announces Exploration Partner and Project Generation Update and Forecast - Seite 2

Pearl String epithermal target, Nevada, USA

Barrick Gold has mobilized drill crews at Pearl String for a five to six hole program. The plan is designed to test a region of magnetic destruction beneath the pediment proximal to a gold-rich lithocap. The widely spaced drill holes are designed to determine volcanic stratigraphy and alteration/mineralization under cover and where there is limited outcrop along the Gumdrop Fault. The goal is to use this information to vector into a more robust portion of the system. Orogen holds the right to cash payments and a 2% NSR royalty.

Ecru Carlin target, Nevada, USA

Moneghetti Minerals Limited (Private) defined several drill targets on the Ecru gold project based on a 2022 soil sampling program⁴. A five-hole drill program is planned in 2023 to test for shallow skarn and intrusion-related gold mineralization similar to Barrick Gold's nearby Robertson deposit (2.7 million ounces gold)⁵. Orogen holds the right to cash payments and a 2% NSR royalty.

Ghost Ranch Carlin target, Nevada, USA

Ivy Minerals, Inc.'s (Private) 2022 drill program (1,236 metres in three holes) returned anomalous pathfinder elements and has helped define the stratigraphy in the region. Ivy is currently conducting an audio frequency magnetotellurics (AMT) survey on the property to further refine its drill targets. There are provisional plans for a late 2023 or early 2024 diamond drill program. Orogen holds the right to a 1% NSR royalty on the Ghost Ranch project.

SI2 epithermal gold target, Nevada, USA

K2 Gold Corporation (TSX.V:KTO) ("K2") began a 2,500 metre drill program at the Si2 project in May 2023. The program is designed to test fault structures thought to control the steam-heated alteration observed at surface⁶. Three holes have been completed intersecting alteration consistent with an epithermal system including broad zones of silicification accompanied by disseminated pyrite, quartz-pyrite veinlets, as well as discrete intervals of black quartz-pyrite matrix breccia. ⁷ Drilling is ongoing with descriptions of the final holes and assay results pending. Orogen holds the right to cash payments and a 2% NSR royalty on the Si2 project.